Claire Lillie (EY) examines the administrative and technical considerations for non-resident corporate landlords as they complete their transition towards corporation tax.
Tax compliance requirements for UK property owners have sometimes been challenging with significant legislative changes being introduced by HMRC in recent years. Below we look at the move to bring non-resident corporate landlords into corporation tax and the complexities this brings while summarising other changes.
Transition towards the corporation tax regime
FA 2019 introduced the transition towards the corporation tax regime for non-resident corporate landlords. From 6 April 2019 affected companies have been subject to corporation tax on the disposal of UK property rather than non-resident capital gains tax (NRCGT). Those companies who were under the umbrella of the annual tax on enveloped dwellings (ATED) which was introduced in FA 2013 also saw the abolition of ATED-related CGT. The standard ATED regulations will still...
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Claire Lillie (EY) examines the administrative and technical considerations for non-resident corporate landlords as they complete their transition towards corporation tax.
Tax compliance requirements for UK property owners have sometimes been challenging with significant legislative changes being introduced by HMRC in recent years. Below we look at the move to bring non-resident corporate landlords into corporation tax and the complexities this brings while summarising other changes.
Transition towards the corporation tax regime
FA 2019 introduced the transition towards the corporation tax regime for non-resident corporate landlords. From 6 April 2019 affected companies have been subject to corporation tax on the disposal of UK property rather than non-resident capital gains tax (NRCGT). Those companies who were under the umbrella of the annual tax on enveloped dwellings (ATED) which was introduced in FA 2013 also saw the abolition of ATED-related CGT. The standard ATED regulations will still...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
